"Vazovsky machine-building plants" (VMZ) in Sopot report a record 828 million BGN net sales revenue for 2023, which is twice as much compared to the previous year. This is what the company's data show.
The company reports an increased demand for special products on the market. Therefore, it is planned to increase the capacity with new technologies and lines, with the costs for fixed assets exceeding BGN 20 million.
The explanation is that the Defense Ministry produces various ammunition, projectiles and rockets of the Soviet type, which are bought by NATO countries.
Workers in the state-owned company have increased by nearly 500 people to over 4,100 people in the last year. Their remunerations are also constantly increasing.
Workers at VMZ EAD - Sopot will receive additional remuneration before Easter. It will be in the amount of one minimum wage for the company. About BGN 760 will go into the wallet of each person working in the largest state-owned company from the defense industry. The money will be paid before the bright Christian holidays, announced the management of VMZ.
With this, the Board of Directors of VMZ continues the tradition from recent years of charging one minimum wage each before Christmas and Easter.
The acquisition was agreed with the union partners and is based on the good financial results of the company. The trade unions are satisfied with the management of the enterprise.
In the last two years, VMZ has been on the rise. It is expected that in 2024, its revenue and profit will grow. The company is the largest employer in the region and the interest of job seekers in the Sub-Balkans is mainly directed towards it.
At the same time, the management is working to increase the qualifications of its workers and employees by partnering with the professional high school “Gen. Vladimir Zaimov“ in Sopot and the Technical University in Sofia.
VMZ - Sopot is developing very well and has been revived in recent years. Unlike the mismanagement years ago when it faced bankruptcy, it now has orders and contracts for two years ahead.